OKX Launches X Layer Public Mainnet! What is it? What are its features?
OKX, the world’s second-largest cryptocurrency exchange, has recently announced the official launch of the X Layer public mainnet.
X Layer is an Ethereum Layer-2 (L2) network based on zero-knowledge (ZK) technology, built with Polygon CDK, and achieves shared state and liquidity among multiple chains through AggLayer, combining innovation and security.
X Layer utilizes advanced technology to allow millions of users to interact with on-chain applications more affordably and efficiently. In addition to ensuring transaction security and scalability while reducing costs through ZK technology, X Layer is also compatible with the Ethereum Virtual Machine (EVM), enabling seamless deployment of dApps built on Ethereum without extensive development work.
Haider Rafique, Chief Marketing Officer of OKX, said, “X Layer is designed for visionary developers who are creating different applications to bring millions of people onto the chain. We can envision X Layer and other L2 chains as the highways of the Web3 world, with dApps as the market and self-custody wallets as the vehicles that bring users there. To achieve this vision, we are building an ecosystem that is as seamless and interoperable as possible. Benefiting from our strong community and connectivity with other Ethereum networks, we believe X Layer has unlimited potential.”
Polygon CEO: X Layer can solve cross-chain liquidity fragmentation problem
The adoption of X Layer has grown rapidly since the release of its mainnet testnet in November 2023, with over 50 Web3 dApps deployed on its testnet within a week of its release.
Many well-known applications such as The Graph, Curve, LayerZero, QuickSwap, Galxe, Timeswap, and others are also being deployed on X Layer. Global users can now transfer, store, and withdraw virtual assets on OKX through the X Layer network, as well as access services from over 170 dApps, including exchanges and staking through smart contracts.
With the official public launch of X Layer, the number of dApps is expected to grow exponentially.
OKX is one of the world’s largest virtual asset exchanges in terms of daily trading volume (including spot and derivative products), with over $22 billion in virtual assets hosted on the platform. At the same time, the OKX wallet is also one of the most advanced gateways to the Web3 world, supporting over 90 public chains and providing a powerful DEX and NFT marketplace aggregator.
Currently, OKX has over 50 million users globally, serving as a global hub for a diverse community and ensuring that X Layer has a large user base and sufficient liquidity upon launch. OKX’s native token, OKB, will be used as the native token of the X Layer network for paying gas (miner fees).
Polygon CDK is an advanced software development toolkit tailored for blockchain developers and based on ZK, making it easy for developers to build new L2s for Ethereum. X Layer is also driven by this innovative toolkit.
OKX developers will also contribute to Polygon CDK to ensure continuous innovation and improvement of X Layer’s core technology stack. Additionally, X Layer will connect with other chains driven by Polygon CDK through AggLayer, achieving seamless transition of liquidity and enhancing the community scale and liquidity of X Layer.
Marc Boiron, CEO of Polygon, said, “X Layer is a truly unified Web3 built for the industry, taking a significant milestone forward. The connection between X Layer and AggLayer solves the problem of liquidity fragmentation across chains on AggLayer, enabling mutual growth. OKX’s 50 million users can now easily log in to X Layer and connect with other chains connected to AggLayer. The impressive lineup of developers building applications on X Layer proves the network’s potential, and we look forward to continuing to work with OKX to achieve common industry goals.”